BRITANNIA Ind. Ltd.

Particulars
2017 2018 2019 2020
Equity & Liabilities
Share Capital 24 24.01 24.03 24.05
Reserves & Surplus 2,557.98 3211.27 4015.42 4250.60
Money received against share warrants - - - -
Minority Interest - - - -
Share application money pending allotment - - - -
Total Equity 2581.98 3235.28 4039.45 4274.65
Non-Current liabilities
Secured - Non Convertible Debentures - - - -
Long Term Borrowings 23.30 25.27 4.13 733.13
Deferred Tax Liabilities (Net) - - 27.03 30.50
Other Long term liabilities 1.44 0.72 - -
Long Term Provisions - - - -
Lease liability 0.00 0.00 0.00 0.00
Trade payable - - - -
Net employee benefit liabilities - - - -
Liabilities held for sale - - - -
Total 24.74 25.99 31.16 763.63
Current liabilities
Short term borrowings 142.93 191.63 205.17 894.62
Subordinate liability - - - -
Trade Paybales 643.82 866.36 1032.54 955.98
Other Current Liablities 128.19 136.99 156.13 181.76
Short term provisions 174.48 171.05 188.52 182.70
Lease liability 0.00 0.00 0.00 0.00
Derivative Instruments - - - -
Deposits - - - -
Liability held for sale 0.00 0.00 0.00 0.00
Total 1089.42 1366.03 1582.36 2215.06
Total liabilities 3696.14 4627.3 5652.97 7253.34
Assets
Non-Current Assets
Tangible Assets-PPE 812.47 1008.31 1283.85 1416.02
Intangible Assets 11.6 7.97 7.62 8.37
CWIP 29.77 200.28 64.91 38.92
Intangible Assets under development - - - -
Non Current Investments 514.18 450.65 1051.97 2260.31
 Deferred Tax Assets (Net) 23.01 22.75 29.52 59.31
Long Term Loans & advances 116.52 86.74 15.55 192.03
other Non-current assets 168.46 68.09 93.15 37.09
Investment in subsidadries & joint venture 15.25 14.99 36.13 36.14
Trade Receivables - - - -
Regulatory deferred account balance - - - -
Asset held for sale 0.00 0.00 0.00 0.00
Total Non-Current Assets 1691.26 1859.78 2582.70 4048.19
Current Assets
Inventories 602.61 594.58 718.89 633.53
Trade Receivables 126.41 230.32 350.96 242.23
Cash & Cash Equivalent 53.55 97.25 40.48 39.16
Short term loans & advances 791.94 820.41 1121.41 1075.73
other current assets 344.64 289.48 243.83 332.44
Current Investments 85.73 735.48 594.70 882.06
Derivative Instrument - - - -
Asset held for Sale 0.00 0.00 0.00 0.00
Investment in subsidadries & joint venture 0.00 0.00 0.00 0.00
Total Current Assets 2004.88 2767.52 3070.27 3205.15
Total Assets 3696.14 4627.30 5652.97 7253.34
Ltd. 2017 2018 2019 2020
2021 WC/Rev 10.37% 14.70% 13.94% 8.74%
Debt Free WC/ Rev 11.99% 16.71% 15.86% 16.65%
24.09 Debt Free Cash Free WC/ Rev 11.38% 15.69% 15.48% 16.30%
3295.44
- Avg inventory 598.595 656.735 676.21 812.405
- Cogs 5206.34 5649.14 6362.99 6299.98
- DIO 41.965599 42.432702 38.789413 47.068058
3319.53
Avg Ac. Payables 755.09 949.45 994.26 1073.535
- Cogs 5206.34 5649.14 6362.99 6299.98
760.87 DPO 52.936967 61.345488 57.033706 62.197066
7.85
- Avg Ac. Receivables 178.365 290.64 296.595 220.295
- DSO 7.3736518 11.124422 10.143116 7.1018278
0.00
- CCC -3.5977168 -7.7883639 -8.1011762 -8.0271806
- OC 49.33925 53.557124 48.93253 54.169886
-
768.72   Maximum Permissible Bank Finance (MPBF)
2017 2018 2019 2020
1580.98 Total Current Assets 2004.88 2767.52 3070.27 3205.15
Other Current Liabilities (Other t 946.49 1174.4 1377.19 1320.44
1191.09 Working Capital = #1 - #2 1058.39 1593.12 1693.08 1884.71
190.06
365.63 Margin First Method 264.5975 398.28 423.27 471.1775
0.00 Bank Finance 1st Method 793.79 1194.84 1269.81 1413.53
-
- Margin Second Method 501.22 691.88 767.5675 801.2875
0.00 Bank Finance 2nd Method 557.17 901.24 925.51 1083.42
3327.76
7416.01

1360.02
8.54
111.66
-
1658.04
 55.68
70.73
101.13
35.28
-
-
0.00
3401.08

991.28
198.36
110.80
946.09
475.44
1292.96
-
0.00
0.00
4014.93
7416.01
 2021 3yr Avg 5yr Avg
5.42% 9.37% 10.63%
17.90% 16.80% 15.82%
17.03% 16.27% 15.18%

991.28
8366.25
43.247237 43.03 42.70

1191.09
8366.25
51.964482 57.07 57.10

198.36
5.7137062 7.65 8.29

-3.0035386 -6.38 -6.10

48.960944 50.69 50.99

2021
4014.93
1746.78
2268.15

567.0375
1701.11

1003.7325
1264.42
 Particulars
BRITANNIA
2017
I. Revenue from Operation 8,684.39
II. Other Income 144.78
III. Total Revenue (I+II) 8,829.17
IV. Expenses:
Cost of material consumed 5,247.56
Changes in inventories of finished goods, work in progress and stock in trade -49.25
Employee Benefit Expenses 241.68
Financial Cost 1.34
Depreciation & Amortisation 96.43
Manfacturing Expenses -
Office Admn Exp -
Selling & Distribution Exp -
Travelling & Conveyance Exp -
Net loss on foreign currency transaction -
Excise Duty 270.02
Subcontracting -
Network operating Expenses -
Access Charges -
License fees/ Spectrum Charges -
Other Expenses 1,770.47
Total Expenses 7,578.25
V. Profit before Exceptional and Extraordinary items and Tax 1250.920
VI. Exceptional Items 0
VII. Profit before Extraordinary items and Tax 1250.920
VIII. Extraordinary Items 0.000
IX. Profit Before Tax 1250.920
X. Tax Expense:
(1) Current Tax 390.2
(2) Tax in relation to earlier periods 0.000
(3) Minimum alternate Tax credit 0.000
(4) Deferred Tax 17.27
XI. Profit/(Loss) for the period from continuing operations 843.450
XVI. Earning Per Equity Share:
(1) Basic 70.31
(2) Diluted 70.3
 BRITANNIA Ind. Ltd. Yr Projected sales Rev
2018 2019 2020 2021 2017 8829.17 843.45
9380.170 10482.450 10986.680 12378.830 2018 9536.1 947.51
155.930 190.520 335.430 292.700 2019 10672.97 1120.11
9,536.10 10,672.97 11,322.11 12,671.53 2020 11322.11 1479.71
2021 12671.53 1762.45
5777.630 6326.650 6596.220 7418.190 2022 13447.595 1941.706
-4.180 -49.020 61.510 -43.220 2023 14394.668 2178.726
294.870 321.640 368.870 402.850 2024 15341.741 2415.746
1.450 1.540 65.170 97.810 2025 16288.814 2652.766
119.760 135.000 151.690 166.770 2026 17235.887 2889.786
- - - -
- - - - Chart Title
- - - - 20000
- - - - 18000
- - - - 16000
76.110 - - - 14000
- - - - 12000
- - - - 10000
- - - - 8000
- - - - 6000
1825.640 2223.140 2193.980 2247.270 4000
8,091.28 8,958.95 9,437.44 10,289.67 2000
0
1444.820 1714.020 1884.670 2381.860 2016 2018 2020 2022 2024
0.000 0.000 -19.000 0.000
Projected sales Rev
1444.820 1714.020 1903.670 2381.860
0.000 0.000 0.000 0.000
1444.820 1714.020 1903.670 2381.860

499.560 581.360 416.860 622.530

0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000
-2.250 12.550 7.100 -3.120
947.510 1120.110 1479.710 1762.450

73.120 73.120 73.120 73.120

73.090 73.090 73.090 73.090
 Chart Title

20 2022 2024 2026 2028

Projected sales Rev

Particulars 2017 2018

From the perspective of Sales

Sales / Revenue 8,829.17 9,536.10
Cost of Goods Sold:
Cost of material consumed 5,247.56 5,777.63
Changes in inventories of finished goods, work in progress and stock in trade -49.25 -4.18
Manfacturing Expenses 0 0
COGS 5,198.31 5,773.45
Gross Profit = (1) -(2) 3,630.86 3,762.65
Selling,General and Administration
Employee Benefit Expenses 241.68 294.87
Office Admn Exp 0 0
Selling & Distribution Exp 0 0
Travelling & Conveyance Exp 0 0
Other expenses 2040.49 1901.75
SG&A 2,282.17 2,196.62
EBITDA = Gross Profit (3)- SG&A (4) 1,348.69 1,566.03
Depreciation & Impairment 96.43 119.76
EBIT = EBITDA (6) - Dep & Impairment (7) 1,252.26 1,446.27
Financial Cost 1.34 1.45
+/(-) Exceptional Items 0 0
Extraordinary Items 0 0
Earning Before Tax (EBT) 1,250.92 1,444.82
Taxes
(1) Current Tax 390.2 499.56
(2) Tax inrelation to earlier year 0 0
(3) Minimum alternate tax credit entitlement 0 0
(4) Deferred Tax 17.27 -2.25
Net Taxes 407.47 497.31
Profit from discontinued operations 0 0
EAT / Net Income = EBT (12)- Tax (13) 843.45 947.51
Cash Profit = EAT (11) + Depreciation & Impairment (6) 939.88 1,067.27

DOL
DFL
DTL
% Change 2018 2019 % Change 2019 2020 % Change 2020 2021

8.01% 9,536.10 10,672.97 11.92% 10,672.97 11,322.11 6.08% 11,322.11 12,671.53

5,777.63 6,326.65 6,326.65 6,596.22 6,596.22 7,418.19

-4.18 -49.02 -49.02 61.51 61.51 -43.22
0 0 0 0 0 0
5,773.45 6,277.63 6,277.63 6,657.73 6,657.73 7,374.97
3.63% 3,762.65 4,395.34 16.82% 4,395.34 4,664.38 6.12% 4,664.38 5,296.56

294.87 321.64 321.64 368.87 368.87 402.85

0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
1901.75 2223.14 2223.14 2193.98 2193.98 2247.27
2,196.62 2,544.78 2,544.78 2,562.85 2,562.85 2,650.12
1,566.03 1,850.56 1,850.56 2,101.53 2,101.53 2,646.44
119.76 135 135 151.69 151.69 166.77
15.49% 1,446.27 1,715.56 18.62% 1,715.56 1,949.84 13.66% 1,949.84 2,479.67
1.45 1.54 1.54 65.17 65.17 97.81
0 0 0 -19 -19 0
0 0 0 0 0 0
1,444.82 1,714.02 1,714.02 1,903.67 1,903.67 2,381.86

499.56 581.36 581.36 416.86 416.86 622.53

0 0 0 0 0 0
0 0 0 0 0 0
-2.25 12.55 12.55 7.1 7.1 -3.12
497.31 593.91 593.91 423.96 423.96 619.41
0 0 0 0 0 0
12.34% 947.51 1,120.11 18.22% 1,120.11 1,479.71 32.10% 1,479.71 1,762.45
1,067.27 1,255.11 1,255.11 1,631.40 1,631.40 1,929.22

2017-18 2018-19 2019-20 2020-21

1.93 1.56 2.25 2.28 Mostly Operating Leverage
0.80 0.98 2.35 0.70 Year 2020 Financial Leverage
1.54 1.53 5.28 1.60
% Change

11.92%

13.55%

27.17%

19.11%
 Particulars
2017
From the perspective of Sales
Sales / Revenue 8,829.17 100%
Cost of Goods Sold:
Cost of material consumed 5,247.56
Changes in inventories of finished goods, work in progress and stock in trade -49.25
Manfacturing Expenses 0
COGS 5,198.31 58.88%
Gross Profit = (1) -(2) 3,630.86 41.12%
Selling,General and Administration
Employee Benefit Expenses 241.68
Office Admn Exp 0
Selling & Distribution Exp 0
Travelling & Conveyance Exp 0
Other expenses 2040.49
SG&A 2,282.17 25.85%
EBITDA = Gross Profit (3)- SG&A (4) 1,348.69 15.28%
Depreciation & Impairment 96.43 1.09%
EBIT = EBITDA (6) - Dep & Impairment (7) 1,252.26 14.18%
Financial Cost 1.34 0.02%
+/(-) Exceptional Items 0
Extraordinary Items 0
Earning Before Tax (EBT) 1,250.92 14.17%
Taxes
(1) Current Tax 390.2
(2) Tax inrelation to earlier year 0
(3) Minimum alternate tax credit entitlement 0
(4) Deferred Tax 17.27
Net Taxes 407.47 4.62%
Profit from discontinued operations 0
EAT / Net Income = EBT (12)- Tax (13) 843.45 9.55%
Cash Profit = EAT (11) + Depreciation & Impairment (6) 939.88 10.65%
 BRITANNIA Ind. Ltd.
2018 2019 2020 2021

9,536.10 100% 10,672.97 100% 11,322.11 100% 12,671.53 100%

5,777.63 6,326.65 6,596.22 7,418.19

-4.18 -49.02 61.51 -43.22
0 0 0 0
5,773.45 60.54% 6,277.63 58.82% 6,657.73 58.80% 7,374.97 58.20%
3,762.65 39.46% 4,395.34 41.18% 4,664.38 41.20% 5,296.56 41.80%

294.87 321.64 368.87 402.85

0 0 0 0
0 0 0 0
0 0 0 0
1901.75 2223.14 2193.98 2247.27
2,196.62 23.03% 2,544.78 23.84% 2,562.85 22.64% 2,650.12 20.91%
1,566.03 16.42% 1,850.56 17.34% 2,101.53 18.56% 2,646.44 20.88%
119.76 1.26% 135 1.26% 151.69 1.34% 166.77 1.32%
1,446.27 15.17% 1,715.56 16.07% 1,949.84 17.22% 2,479.67 19.57%
1.45 0.02% 1.54 0.01% 65.17 0.58% 97.81 0.77%
0 0 -19 0
0 0 0 0
1,444.82 15.15% 1,714.02 16.06% 1,903.67 16.81% 2,381.86 18.80%

499.56 581.36 416.86 622.53

0 0 0 0
0 0 0 0
-2.25 12.55 7.1 -3.12
497.31 5.22% 593.91 5.56% 423.96 3.74% 619.41 4.89%
0 0 0 0
947.51 9.94% 1,120.11 10.49% 1,479.71 13.07% 1,762.45 13.91%
1,067.27 11.19% 1,255.11 11.76% 1,631.40 14.41% 1,929.22 15.22%
Perticulars 2017 2018
Sales / Revenue 100.00% 100.00%
COGS 58.88% 60.54%
Gross Profit = (1) -(2) 41.12% 39.46%
SG&A 25.85% 23.03%
EBITDA = Gross Profit (3)- SG&A (4) 15.28% 16.42%
Depreciation & Impairment 1.09% 1.26%
EBIT = EBITDA (6) - Dep & Impairment (7) 14.18% 15.17%
Financial Cost 0.02% 0.02%
Earning Before Tax (EBT) 14.17% 15.15%
Net Taxes 4.62% 5.22%
EAT / Net Income = EBT (12)- Tax (13) 9.55% 9.94%
Cash Profit = EAT (11) + Depreciation & Impairment (6) 10.65% 11.19%
2019 2020 2021
100.00% 100.00% 100.00%
58.82% 58.80% 58.20%
41.18% 41.20% 41.80%
23.84% 22.64% 20.91%
17.34% 18.56% 20.88% Consistant Increase
1.26% 1.34% 1.32%
16.07% 17.22% 19.57% Consistant Increase
0.01% 0.58% 0.77% Consistant Increase
16.06% 16.81% 18.80% Consistant Increase
5.56% 3.74% 4.89%
10.49% 13.07% 13.91%
11.76% 14.41% 15.22%